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FxWirePro: USD/TRY hits 1-week low, finds strong support at 55-EMA

  • The Turkish Lira rallied to a 1-week peak amid a reduction in the number of deaths and infections from the COVID-19 virus.
     
  • On Monday, Turkey announced 29 new fatalities, bringing the death toll to 4,369 and reporting 987 new infections.
     
  • USD/TRY is trading 0.6 percent lower at 6.7613, having hit a low of 6.7518 earlier, its lowest since May 19. 
     
  • Immediate resistance is located at 6.8381, any close above could take it above 6.8616 (10-DMA).
     
  • On the downside, support is seen at 6.7364 (55-EMA) and break below could take it near 6.7016. 
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